Stay Well at Home

Mortgage and rent payments are coming up and many of my Friends need a Game Plan. If you were one of those burned in last Recession, please take comfort that the banks have more experience with this now and manage it better. They want you to stay in your home. Further, our Federal government has taken important, proactive steps to protect you. Your best defense is a good offense--early and regular communication is your shield! Please keep in touch with me as well. My skill set includes resourcefulness, and I might be able to open some doors for you.
About half of my Friends have mortgage loans guaranteed by Fannie Mae and Freddie Mac. The first bit of good news for us is that they are healthier than they were in 2007, when much of their portfolios were in subprime loans. (watch or read The Big Short while riding this out at home--not suitable for kids--and know this is not happening again). The other lenders are likely to follow this government mandate to provide "forbearance." What this means is that the banks have been ordered to give you flexibility in paying your mortgage based on certain qualifications. Depending on your situation, you can pay reduced or no mortgage for up to 12 months.

Showing Time (Dis)service

As independent contractors, real estate agents make the choices for how they manage their appointments.  An unfortunate growing trend is to use an automated scheduling service so the agent does not have to be involved in this part of the process. This service also removes "follow up" from the agent's task list.  At the onset of setting up showings for a buyer, for a listing that utilizes the ShowingTime service, the Buyer's Agent is instructed to call an 800 number to schedule all appointments. They speak to a non-licensed operator who coordinates with the owners or tenants of the property and texts/emails that agent back with showing instructions (where to find lockbox/any special codes). The Listing Agent is completely removed from the process of setting up the appointment. After the showing, the Buyer's Agent receives an email with a few multiple choice options for providing feedback to the Seller.

It sounds simple, but the reality for the Buyer's Agent can be quite the opposite.  If the owner/tenant declines the showing, there is no follow up to reschedule by the Showing Time rep.  I've had this happen multiple times when attempting to show a property.  I have called the Listing Agent to be told that I have to schedule through the service. I have explained that the occupant has twice declined our attempts to make appointments with no explanation. Agent stated she would call me back to set up when they are available, but she never did.  On another occasion, Buyer and I were 15 minutes from our scheduled appointment, to have it suddenly canceled via email due to an illness. In this situation, an agent followed up with a phone call behind her ShowingTime notification to ensure that I was aware of the change. But I never received a call back when the occupant was well again for rescheduling.  I am quite certain the Listing Agent didn't intend to abandon the potential to sell her listing, but it...

Looking in North Carolina?

Looking for the right vacation home in North Carolina? The Real Estate Group serves all of Hampton Roads and Northeast North Carolina. Let us help you find the perfect waterfront or beachfront property. From the outer banks to Edenton, we have you covered.